"Atomenergomash’s strategic goal is to become a global player on the wind energy market with a significant share in Russia and abroad by 2020," Kashchenko said at a wind power industry conference.
The company plans to produce wind turbines and become involved in wind farm development he said, adding that nine Russian regions were interested in the project. Atomenergomash is also in talks with state-owned Rosenergoatom on the construction of wind farms near seven of the company’s nuclear power plants.
The average capacity of a wind farm is 50-100 megawatts, depending on the region.
"The wind farm will help increase the plants’ capacity factor as they sometimes spend up to five percent for their own needs," said Kashchenko.
Atomenergomash intends to be present on wind farm markets in the countries of Eastern Europe, the Middle East and Asia, priority regions for Rosatom. Atomenergomash plans to acquire an international development company to facilitate its entering the markets.
"We are looking for a technology partner. The corporate model can be of any kind: a purchase or a joint venture. We are choosing among industry leaders," Kashchenko said adding that the decision on the partner would be taken in the first or second quarter of 2011.
Kashchenko also said after the company had cemented its position in the wind energy market, it planned to start working on the solar energy market and produce electricity from timber production waste.
"By 2020, the share of equipment for alternative energy in Atomenergomash’s revenue structure will be 20%," he said.
Resources-rich Russia currently has almost no wind turbines due to its vast reserves of oil and gas, but the government has said it now wants 4.5 percent of power to come from renewable resources by 2020.
One of the world’s biggest manufacturers of wind turbines is Germany’s Siemens — which signed a 1 billion euro ($1.36 billion) co-operation agreement with Russian wind power companies earlier this year.
Russia President Dmitry Medvedev asked Energy Minister Igor Sechin to look into the issues of alternative energy and tariffs earlier this year.